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Effectively, yes. Either both parties can sign the same contract, or each can sign their own copy and exchange them. Basically the same.
Unless the documents that each side signs and exchanges are different. Then it's party time for the litigation lawyers, salty tears for the conveyancers, and squeaky bum time for the insurers. And, yes, it has happened.
Brommers
@Brommers unless signed meaning once you have exchanged? Cheers